Gold and Silver Futures Edge Higher

by CoinNews.net on March 22, 2016 · 0 comments

10 Oz Fine Gold Bar

Precious metals futures posted gains ranging from 0.2% for silver to 1.5% for platinum

Precious metals futures closed higher on Tuesday. Gold marked its first increase in three sessions. Silver, meanwhile, rose for a second day in a row.

Gold for April delivery advanced $4.40, or 0.4%, to settle at $1,248.60 an ounce on the Comex division of the New York Mercantile Exchange. Safe-haven demand was attributed to the gains.

"As global volatility hits headlines, investors impulsively look for cover, as today’s reaction to terror in Brussels exemplifies," MarketWatch quoted Jonathan Citrin of CitrinGroup, a financial advisory practice at Ameriprise Financial.

Gold prices traded from a low of $1,242.80 to a high of $1,260.90. In the prior session, they declined 0.8%.

Silver for May delivery settled up 3.8 cents, or 0.2%, to settle at $15.885 an ounce. Silver prices ranged from $15.79 to $16.04. They rose 0.2% on Monday.

In PGM futures on Tuesday:

  • April platinum tacked on $15, or 1.5%, to $996.80 an ounce, trading between $976.60 and $999.90.

  • Palladium for June delivery moved up $2.65, or 0.4%, to $605.60 an ounce, ranging from $598.80 to $608.15.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold added $7.60, or 0.6%, to $1,252.50 an ounce.
  • Silver added 8 cents, or 0.5%, to $15.89 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2016

U.S. Mint bullion sales were unchanged Tuesday. Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week This Week Jan Sales Feb Sales Mar Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 0 5,500 0 89,000 67,500 18,000 174,500
$25 American Eagle 1/2 Oz Gold Coins 0 0 0 23,000 6,000 1,000 30,000
$10 American Eagle 1/4 Oz Gold Coins 0 0 0 36,000 12,000 4,000 52,000
$5 American Eagle 1/10 Oz Gold Coins 0 15,000 15,000 145,000 100,000 50,000 295,000
$50 American Buffalo 1 Oz Gold Coins 0 2,000 0 34,000 19,000 4,000 57,000
$1 American Eagle 1 Oz Silver Coins 0 1,000,000 651,500 5,954,500 4,782,000 2,915,000 13,651,500
2016 Shawnee 5 Oz Silver Coins 0 0 0 N/A 105,000 0 105,000

 

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